CORPORATION TAX UK
Corporation Tax Uk
Corporation tax is a tax chargeable on the taxable profits of a limited company and other incorporated organizations. Every limited company based in the UK is subject to corporation tax charge on their profits made in an accounting period. Accountancy Managers Ltd specialise in corporation tax of companies, we are tax accountants based in central London and have expertise in advising clients on corporation tax planning and complex corporation tax issues.
Limited companies that are non-residents and incorporated outside the UK might still be expected to pay corporation tax in the UK if the main management of the company is carried out in the UK.
If you are operating as a limited company you will need to calculate the taxable profits on each accounting period, a period covering maximum 12 months, and then calculate corporation tax payable thereon. This is carried out by submitting a corporation tax return to HMRC along with supporting accounts and tax computations. The corporation tax liability is payable within 9 months and 1 day after the end of accounting period.
Strict penalties are chargeable if you do not file the corporation tax return within the deadlines, similarly if you don’t pay your corporation tax bill on time. Interest is chargeable on all late payments, therefore it can prove to be a real burden for businesses.
As with any other area of the business it is important to think ahead and plan when dealing with corporation taxes. We can help by conducting a tax review of your business and by determining the most efficient tax structure for you. We also ensure that all corporation tax compliances are met by preparing and submitting corporation tax returns on time and dealing with HMRC on your behalf.
We offer the smart thinking needed to reduce your tax bill by offering proactive advice on various capital allowances that can be claimed as well as providing you with the additional strategies to keep your tax bill to the right and minimum level.
We can help to provide you with an efficient and cost effective corporation tax service including;
Assistance with initial corporation tax registration with accurate accounting period dates
Help with the selection of the most suitable tax methods and reporting
Submission of corporation tax returns and compliances
Guidance on corporation tax treatment of specific transaction
Claiming all available capital allowances with allowances tax planning
If you are thinking to appoint an accountant to handle your corporation tax affairs, or noticing that your current accountant is not offering the value for money advise then do get in touch with us to try-out our services.
Accountancy Managers Ltd – Tax Accountants in London, Tax Advisors in London, Corporation Tax Accountants in London W1W.